REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTANT SERVICES – SELECTION OF FIRMS)

 

Country: Libya

Project Name: Technical Assistance for Strategic Capacity Enhancement in Islamic Finance for the Central Bank of Libya

Sector: Islamic Banking and Finance

Consulting Services: Strategic Capacity Enhancement in Islamic Finance for the Central Bank of Libya

Mode of Financing: Islamic Finance Grant

Financing No: LBY1017

The Central Bank of Libya has received financing from the Islamic Development Bank toward the cost of the Strategic Capacity Enhancement in Islamic Finance for the Central Bank of Libya (CBL) Project (LBY1017) and intends to apply part of the proceeds for consulting services.  The services include the Studies/Consultancy Services of the main project. Its scope is as follows:

• Preparation of Treasury Guidelines
• Study on the Central Bank Investment Opportunities in IF Products
• Study on Liquidity Management and Liquidity of Financial Products
• Manual of Islamic Finance Operations and Accounting Procedures
• Manual of Governance for Treasury
• Manual of Financial Reporting (Valuation/Measurement, Presentation and Disclosures)
• Manual on Risk management Tools for Treasury
• Study on required IT Systems/ Solutions for Treasury
• Manual on Supervision and Auditing procedures for Islamic investment products

The project's primary objective is to develop and implement a Strategic Capacity Enhancement in Islamic Finance for the Central Bank of Libya (CBL). This consultancy aims to strengthen the CBL’s Islamic finance operations by providing expert guidance and delivering a comprehensive suite of targeted studies and detailed manuals. The deliverables will be crafted to ensure full alignment with global best practices and the authoritative standards set by leading Islamic finance bodies, including AAOIFI and IFSB. The project will be implemented in 12 months and is expected to start in February 2026.

The draft TOR for the assignment is attached to Annex-1.

The CBL now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the listed services in the draft ToR. Interested Consultants must provide specific information that demonstrates that they are fully qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.) including expertise in developing similar studies.

The shortlisting criteria are:

• • Core business and years in business:  The firm’s core business must be in Islamic finance consultancy and related financial advisory services. The firm should have been legally established and operating for at least five (5) years in the field of Islamic banking and finance consultancy. 
  • Specific experience: Demonstrated experience in conducting similar assignments related to Islamic finance institutional development, including the preparation of operational manuals, policy frameworks, liquidity management studies, governance manuals, and risk management tools: The firm must provide evidence of at least three (3) successfully completed assignments of a similar nature and scope during the last 10 years, previous similar assignments with central banks, regulatory bodies, or global development agencies is highly desirable.
  • Key Experts will not be evaluated at the shortlisting stage.

The attention of interested Consultants is drawn to Paragraphs, 1.12.1, and 1.12.2 of The Guidelines for the procurement of Consultancy Services under lsDB project financing (April 2019, revised in February 2023) (the “Procurement Guidelines”), setting forth IsDB’s policy on conflict of interest: Guidelines for the Procurement of Consultancy Services under IsDB Project Financing_1.pdf

Consultants may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected.

A consultancy firm will be selected in accordance with the Consultant Qualifications Selection/International Shortlist (CQS) method as set out in the Procurement Guidelines.

Interested consultants may obtain further information at the address below during office hours; 8:30 to 16:30 hours Libya Local Time.

Expressions of interest must be delivered in a digital form to the email address below by e-mail by the date of 15 January 2026.

 

CENTRAL BANK OF LIBYA (CBL)

Attention: Moftah Ali Suliaman

Address: Alfateh Street. Tripoli

Tel: Director of Financial Markets

E-mail: msuliaman@cbl.gov.ly

Website: www.cbl.gov.ly